605 E Denny Way - Apartments FOR SALE


Seattle, WA 98122
$5,395,000 USD
206-948-3670
605 E Denny Way, Seattle, WA for Sale
$5,395,000 USD
Apartments - FOR SALE
1/28
null | 5.13% Cap Rate

605 E Denny Way
Seattle, WA 98122


HIGHLIGHTS

  • Excellent Capitol Hill location close to Broadway and Pike/Pine Corridor
  • Trophy “classic-brick” property with old-world character and detailing
  • Attractive seller financing: $2.8MM down-payment, 5% Interest-only for 3 years
  • 30 units: Mix of large studios, one-bedroom and two-bedroom floorplans
  • Well-maintained and updated building with professional management
  • Updated systems: new central boiler, well-maintained roof, upgraded Square D breaker panels, plumbing partially replaced

OVERVIEW

Paragon Real Estate Advisors is pleased to exclusively offer for sale the Winchester Apartments; a trophy classic-brick building in a prominent Capitol Hill location. Built in 1927 and designed by architect Louis Svarz, the Winchester Apartments sit proudly at the corner of E Denny Way and Boylston Ave E in a perfect Capitol Hill setting just blocks from Broadway. The magnificent four-story masonry building has been lovingly maintained over the years by current and past owners and showcases the incredible period detail and skilled craftsmanship that cannot be found in newer construction. The Winchester features a total of 30 apartments with a desirable mix of large studios, one-bedroom and two-bedroom floorplans. The apartments have tall ceilings, beautiful original hardwood floors, lots of windows with wonderful natural light, large walk-in closets, charming built-in storage and “breakfast nooks”, and many other characteristics that make early 1900’s construction special. The building features a secure access entry, convenient elevator service, clean and bright common laundry room, large resident storage locker area, secure bike storage room and a shop/ storage room for the building custodian. The Winchester Apartments offer a singular opportunity to own a true trophy asset with a rich history in one of the finest rental locations in the city of Seattle. The property has been lovingly cared for by past owners and is in great condition with a very stable occupancy history. New ownership will benefit from strong future rent growth and appreciation and has several options to realize immediate income upside and ways of adding value. Seller financing available for a qualified buyer

FOR SALE DETAILS

PRICE

$5,395,000 USD

PRICE/SF

$352 USD /SF

# OF UNITS

30

PRICE/UNIT

$179,833

CAP RATE

5.13%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Winchester Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

MR (M)

APN/PARCEL ID

684870-0095

ASK ABOUT THIS PROPERTY

Ryan IlesParagon Real Estate AdvisorsMore Info
206-948-3670

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Ryan IlesParagon Real Estate AdvisorsMore Info
206-948-3670

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.